The dollar/yen pair at 3:00 pm has been moving slightly since the end of the New York market last weekend, with the dollar appreciating / yen depreciating in the first half of 136 yen. Although actual demand was bought toward the midpoint, the upside did not increase due to the decline in US long-term interest rates.
The dollar rose to the middle of 136 yen from the first half of 136 yen to the middle price at the beginning of the week, but the price movement stagnated after the related trading had run its course. With the US Federal Open Market Committee (FOMC) to be held on the 26th-27th, there was little positive movement.
Yields on 10-year US Treasury bonds were in the 2.78% range even in Asian time trading, showing no significant movement from the lowest level in two months that was set overseas last weekend. In the market, along with concerns about the recent slowdown in the US economy, there were voices pointing out that "there is a movement to reduce the sales of participants due to the summer vacation" (foreign banks) as one of the causes of the decline in interest rates.
The euro, which was sold last weekend in response to the lower-than-expected July General Purchasing Managers' Index (PMI), had a heavy upside at around 139 yen.
However, the yield curve became bull steep in the German bond market last weekend. "It's okay to see aggressive bull flattening, but at this point, the market isn't yet available," said Shotaro Morita, chief interest rate strategist at SMBC Nikko Securities. ) It is said that it is in the stage.
Dollar / Yen Euro / Dollar Euro / Yen
As of 3:00 pm 136.29 / 31 1.0197 / 01 139.00 / 04
As of 9:00 am 136.3 3/35 1.0198 / 02 139.04 / 08
NY 5 pm 136.05 / 08 1.0210 / 14 138.95 / 99
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